Guideline Value for Lakshman Street / Thandai Periyar Nagar

Lakshman Street / Thandai Periyar Nagar guideline value

The current guideline value of Lakshman Street / Thandai Periyar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lakshman Street / Thandai Periyar Nagar has changed

The guideline value for Lakshman Street / Thandai Periyar Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 230 per sq.ft, which increased to Rs 260 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 38% increase. By 2017, the guideline value had further increased to Rs 1,206 per sq.ft, a substantial 235% jump from the previous revision. However, there is no figure available for the year 2012 in the register.

In the following revisions, the guideline value continued to rise, reaching Rs 1,800 per sq.ft in 2023, which was a 49% increase from 2017. The latest revision in 2024 saw the guideline value rise to Rs 1,980 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 761%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value for Lakshman Street / Thandai Periyar Nagar is below this median.

• Lakshman Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Lakshman Street / Gandhi Nagar: Rs 2,475 per sq.ft (2024)
• K.V.K. Swamy Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Lakshminaranyan Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Lakshminaranyan Nagar 3rd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Lakshman Street / Thandai Periyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Lakshman Street / Thandai Periyar Nagar?

The Sub Registrar Office that covers Lakshman Street / Thandai Periyar Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pammal

The guideline value is an essential factor in property transactions in Pammal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, which is vital for maintaining public services and infrastructure.

Frequently asked questions

What is the current guideline value of Lakshman Street / Thandai Periyar Nagar?

The current guideline value of Lakshman Street / Thandai Periyar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 230 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 761% over this period.

What is the land classification for Lakshman Street / Thandai Periyar Nagar?

Lakshman Street / Thandai Periyar Nagar is classified as Residential Class II Type - II.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees can be calculated accordingly.